Helena Foulkes

Insider

First SEC filing: May 24, 2021 · Latest: May 24, 2021

On this page

Insider at Companies where this person is a reporting insider.
Insider transactions Every share this person bought or sold, from Form 4 filings.
Derivatives Options and other derivative holdings reported by this person.
Initial holdings The stakes this person held when they first started reporting.
Compensation Executive pay disclosed in company proxy statements.

Insider at

Insider transactions

0 buys (P) 0 sells (S) Net: $0 + 88 non-open-market transactions below last 12 months, based on the transactions shown below

Price change vs current quote, split-adjusted for corporate actions since the filing — not benchmarked, not annualized, not size-weighted

88 other filings hidden

Date	Ticker	Code	Shares	Price	Value	Owned after	Δ own	A/D	vs now
June 30, 2026	SKIL	A	17,500	—	—	17,500 Direct	—	Acquired	(price as of 2026-08-21)
June 25, 2026	SKIL	M	12,430	—	—	12,430 Direct	—	Acquired	(price as of 2026-08-21)
June 25, 2026	SKIL	M	12,430	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Oct. 22, 2025	COST	A	286	—	—	1,087 Direct	+35.71%	Acquired	(price as of 2026-08-21)
July 17, 2025	SKIL	M	20,306	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
July 17, 2025	SKIL	M	20,306	—	—	20,306 Direct	—	Acquired	(price as of 2026-08-21)
July 17, 2025	SKIL	M	12,430	—	—	12,430 Direct	—	Acquired	(price as of 2026-08-21)
Oct. 22, 2024	COST	A	303	—	—	801 Direct	+60.84%	Acquired	(price as of 2026-08-21)
July 19, 2024	SKIL	A	20,306	—	—	20,306 Direct	—	Acquired	(price as of 2026-08-21)
July 18, 2024	SKIL	M	3,750	—	—	13,750 Direct	+37.50%	Acquired	(price as of 2026-08-21)
July 18, 2024	SKIL	M	3,750	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Jan. 12, 2024	COST	A	9	—	—	498 Direct	+1.84%	Acquired	(price as of 2026-08-21)
Oct. 22, 2023	COST	A	489	—	—	489 Direct	—	Acquired	(price as of 2026-08-21)
July 20, 2023	SKIL	A	75,000	—	—	75,000 Direct	—	Acquired	(price as of 2026-08-21)
June 23, 2023	SKIL	M	35,398	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
June 23, 2023	SKIL	M	35,398	—	—	35,398 Direct	—	Acquired	(price as of 2026-08-21)
June 23, 2022	SKIL	A	35,398	—	—	35,398 Direct	—	Acquired	(price as of 2026-08-21)
June 23, 2022	SKIL	M	21,621	—	—	21,621 Direct	—	Acquired	(price as of 2026-08-21)
June 23, 2022	SKIL	M	21,621	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Dec. 28, 2021	SKIL	A	21,621	—	—	21,621 Direct	—	Acquired	(price as of 2026-08-21)
May 20, 2021	HD	A	222	$315.90	$70,130	3,881 Direct	+6.07%	Acquired	6.2% (price as of 2026-08-21)
May 20, 2021	HD	A	728	—	—	17,172 Direct	+4.43%	Acquired	(price as of 2026-08-21)
May 21, 2020	HD	A	291	$240.88	$70,096	3,579 Direct	+8.85%	Acquired	39.3% (price as of 2026-08-21)
May 21, 2020	HD	A	955	—	—	16,080 Direct	+6.31%	Acquired	(price as of 2026-08-21)
May 23, 2019	HD	A	260	$192.00	$49,920	3,203 Direct	+8.83%	Acquired	74.8% (price as of 2026-08-21)
May 23, 2019	HD	A	1,198	—	—	14,735 Direct	+8.85%	Acquired	(price as of 2026-08-21)
May 17, 2018	HD	A	270	$185.33	$50,039	2,876 Direct	+10.36%	Acquired	81.1% (price as of 2026-08-21)
May 17, 2018	HD	A	1,241	—	—	13,228 Direct	+10.35%	Acquired	(price as of 2026-08-21)
Feb. 16, 2018	CVS	M	19,965	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Feb. 16, 2018	CVS	S	19,965	$71.04	$1,418,314	45,107 Direct	-30.68%	Disposed	31.7% (price as of 2026-08-21)
Feb. 16, 2018	CVS	M	19,965	$45.07	$899,823	65,072 Direct	+44.26%	Acquired	107.6% (price as of 2026-08-21)
Sept. 15, 2017	CVS	M	39,340	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Sept. 15, 2017	CVS	S 10b5-1	39,340	$81.88	$3,221,159	44,997 Direct	-46.65%	Disposed	14.3% (price as of 2026-08-21)
Sept. 15, 2017	CVS	M	39,340	$54.53	$2,145,210	84,337 Direct	+87.43%	Acquired	71.6% (price as of 2026-08-21)
June 26, 2017	CVS	M	6,029	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
June 26, 2017	CVS	M	14,304	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
June 26, 2017	CVS	S 10b5-1	20,333	$80.00	$1,626,640	44,997 Direct	-31.12%	Disposed	17.0% (price as of 2026-08-21)
June 26, 2017	CVS	M	6,029	$34.96	$210,774	65,330 Direct	+10.17%	Acquired	167.7% (price as of 2026-08-21)
June 26, 2017	CVS	M	14,304	$34.96	$500,068	59,301 Direct	+31.79%	Acquired	167.7% (price as of 2026-08-21)
June 19, 2017	CVS	M	6,029	—	—	6,029 Direct	-50.00%	Disposed	(price as of 2026-08-21)
June 19, 2017	CVS	M	14,303	—	—	14,304 Direct	-50.00%	Disposed	(price as of 2026-08-21)
June 19, 2017	CVS	S 10b5-1	20,332	$76.98	$1,565,157	44,997 Direct	-31.12%	Disposed	21.6% (price as of 2026-08-21)
June 19, 2017	CVS	M	6,029	$34.96	$210,774	65,329 Direct	+10.17%	Acquired	167.7% (price as of 2026-08-21)
June 19, 2017	CVS	M	14,303	$34.96	$500,033	59,300 Direct	+31.79%	Acquired	167.7% (price as of 2026-08-21)
May 18, 2017	HD	A	1,477	—	—	11,726 Direct	+14.41%	Acquired	(price as of 2026-08-21)
May 18, 2017	HD	A	321	$155.70	$49,980	2,549 Direct	+14.41%	Acquired	115.5% (price as of 2026-08-21)
April 3, 2017	CVS	A	150,268	$78.05	$11,728,417	150,268 Direct	—	Acquired	19.9% (price as of 2026-08-21)
April 3, 2017	CVS	A	19,218	$78.05	$1,499,965	51,191 Direct	+60.11%	Acquired	19.9% (price as of 2026-08-21)
April 2, 2017	CVS	F	2,394	$78.50	$187,929	44,997 Direct	-5.05%	Disposed	19.2% (price as of 2026-08-21)
Feb. 28, 2017	CVS	A	15,512	$80.58	$1,249,957	51,389 Direct	+43.24%	Acquired	16.1% (price as of 2026-08-21)
May 19, 2016	HD	A	380	$131.73	$50,057	2,180 Direct	+21.11%	Acquired	154.8% (price as of 2026-08-21)
May 19, 2016	HD	A	1,746	—	—	10,027 Direct	+21.08%	Acquired	(price as of 2026-08-21)
April 1, 2016	CVS	F	2,199	$104.82	$230,499	43,496 Direct	-4.81%	Disposed	-10.7% (price as of 2026-08-21)
April 1, 2016	CVS	A	71,696	$104.82	$7,515,175	71,696 Direct	—	Acquired	-10.7% (price as of 2026-08-21)
April 1, 2016	CVS	A	9,540	$104.82	$999,983	36,556 Direct	+35.31%	Acquired	-10.7% (price as of 2026-08-21)
April 1, 2016	CVS	F	4,411	$104.82	$462,361	45,900 Direct	-8.77%	Disposed	-10.7% (price as of 2026-08-21)
Feb. 29, 2016	CVS	A	8,932	$97.17	$867,922	41,110 Direct	+27.76%	Acquired	-3.7% (price as of 2026-08-21)
Jan. 2, 2016	CVS	F	748	$96.46	$72,152	32,113 Direct	-2.28%	Disposed	-3.0% (price as of 2026-08-21)
May 21, 2015	HD	A	446	$112.01	$49,956	1,765 Direct	+33.81%	Acquired	199.6% (price as of 2026-08-21)
May 21, 2015	HD	A	2,053	—	—	8,117 Direct	+33.86%	Acquired	(price as of 2026-08-21)
April 2, 2015	CVS	F	2,394	$102.71	$245,888	30,373 Direct	-7.31%	Disposed	-8.9% (price as of 2026-08-21)
April 1, 2015	CVS	A	59,922	$102.26	$6,127,624	59,922 Direct	—	Acquired	-8.5% (price as of 2026-08-21)
April 1, 2015	CVS	A	8,556	$102.26	$874,937	42,653 Direct	+25.09%	Acquired	-8.5% (price as of 2026-08-21)
Feb. 27, 2015	CVS	A	9,627	$103.87	$999,956	27,775 Direct	+53.05%	Acquired	-9.9% (price as of 2026-08-21)
Nov. 7, 2014	CVS	M	12,058	—	—	12,058 Direct	-50.00%	Disposed	(price as of 2026-08-21)
Nov. 7, 2014	CVS	M	14,303	—	—	28,607 Direct	-33.33%	Disposed	(price as of 2026-08-21)
Nov. 7, 2014	CVS	M	19,964	—	—	19,965 Direct	-50.00%	Disposed	(price as of 2026-08-21)
Nov. 7, 2014	CVS	S 10b5-1	12,058	$88.07	$1,061,948	18,076 Direct	-40.01%	Disposed	6.3% (price as of 2026-08-21)
Nov. 7, 2014	CVS	M	12,058	$34.96	$421,548	30,134 Direct	+66.71%	Acquired	167.7% (price as of 2026-08-21)
Nov. 7, 2014	CVS	S 10b5-1	14,303	$88.07	$1,259,665	18,076 Direct	-44.17%	Disposed	6.3% (price as of 2026-08-21)
Nov. 7, 2014	CVS	M	14,303	$34.96	$500,033	32,379 Direct	+79.13%	Acquired	167.7% (price as of 2026-08-21)
Nov. 7, 2014	CVS	S 10b5-1	19,964	$88.06	$1,758,030	18,076 Direct	-52.48%	Disposed	6.3% (price as of 2026-08-21)
Nov. 7, 2014	CVS	M	19,964	$45.07	$899,777	38,040 Direct	+110.44%	Acquired	107.6% (price as of 2026-08-21)
May 22, 2014	HD	A	635	$78.78	$50,025	1,291 Direct	+96.80%	Acquired	326.0% (price as of 2026-08-21)
May 22, 2014	HD	A	2,920	—	—	5,939 Direct	+96.72%	Acquired	(price as of 2026-08-21)
April 1, 2014	CVS	A	52,452	$74.29	$3,896,659	52,452 Direct	—	Acquired	26.0% (price as of 2026-08-21)
April 1, 2014	CVS	A	8,412	$74.29	$624,927	39,089 Direct	+27.42%	Acquired	26.0% (price as of 2026-08-21)
Feb. 18, 2014	CVS	A	11,376	$70.32	$799,960	19,334 Direct	+142.95%	Acquired	33.1% (price as of 2026-08-21)
Nov. 21, 2013	HD	P	313	$79.73	$24,955	313 Direct	—	Acquired	320.9% (price as of 2026-08-21)
Nov. 14, 2013	CVS	M	24,114	—	—	24,116 Direct	-50.00%	Disposed	(price as of 2026-08-21)
Nov. 14, 2013	CVS	S 10b5-1	24,114	$65.00	$1,567,410	17,911 Direct	-57.38%	Disposed	44.0% (price as of 2026-08-21)
Nov. 14, 2013	CVS	M	24,114	$34.96	$843,025	42,025 Direct	+134.63%	Acquired	167.7% (price as of 2026-08-21)
Sept. 20, 2013	HD	A	649	$77.00	$49,973	649 Direct	—	Acquired	335.8% (price as of 2026-08-21)
Sept. 20, 2013	HD	A	2,987	$77.00	$229,999	2,987 Direct	—	Acquired	335.8% (price as of 2026-08-21)
Sept. 13, 2013	CVS	M	40,734	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Sept. 13, 2013	CVS	S 10b5-1	40,734	$60.00	$2,444,040	17,817 Direct	-69.57%	Disposed	56.0% (price as of 2026-08-21)
Sept. 13, 2013	CVS	M	40,734	$36.23	$1,475,793	58,551 Direct	+228.62%	Acquired	158.3% (price as of 2026-08-21)
Sept. 12, 2013	CVS	M	12,812	—	—	40,734 Direct	-23.93%	Disposed	(price as of 2026-08-21)
Sept. 12, 2013	CVS	S 10b5-1	12,812	$60.00	$768,720	17,817 Direct	-41.83%	Disposed	56.0% (price as of 2026-08-21)
Sept. 12, 2013	CVS	M	12,812	$36.23	$464,179	30,629 Direct	+71.91%	Acquired	158.3% (price as of 2026-08-21)
Sept. 9, 2013	CVS	M	47,568	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
Sept. 9, 2013	CVS	S 10b5-1	47,568	$58.65	$2,789,863	17,817 Direct	-72.75%	Disposed	59.6% (price as of 2026-08-21)
Sept. 9, 2013	CVS	M	47,568	$41.17	$1,958,375	65,385 Direct	+266.98%	Acquired	127.3% (price as of 2026-08-21)
April 1, 2013	CVS	A	39,340	$54.53	$2,145,210	39,340 Direct	—	Acquired	71.6% (price as of 2026-08-21)
April 1, 2013	CVS	F	1,157	$54.53	$63,091	17,817 Direct	-6.10%	Disposed	71.6% (price as of 2026-08-21)
April 1, 2013	CVS	A	9,170	$54.53	$500,040	37,113 Direct	+32.82%	Acquired	71.6% (price as of 2026-08-21)
Feb. 19, 2013	CVS	A	6,357	$52.66	$334,760	16,559 Direct	+62.31%	Acquired	77.7% (price as of 2026-08-21)
Jan. 2, 2013	CVS	F	558	$49.68	$27,721	10,122 Direct	-5.22%	Disposed	88.4% (price as of 2026-08-21)
June 21, 2012	CVS	M	64,237	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)
June 21, 2012	CVS	M	23,438	—	—	0 Direct	-100.00%	Disposed	(price as of 2026-08-21)

Showing latest 100 of 141 transactions

P = Open-market purchase · S = Sale · A = Grant/award · M = Option exercise · G = Gift · F = Tax withholding

Insider transactions are not a recommendation; sales are often driven by liquidity or tax reasons.

Derivative holdings (Form 4 Table II)

Options, RSUs and convertible securities reported on Form 4 Table II.

Date	Ticker	Security	Underlying	Exercise price	Expiration	Shares	A/D
June 30, 2026	SKIL	Restricted Stock Units	Class A Common Stock (17,500)	—	—	17,500	Acquired
June 25, 2026	SKIL	Phantom Stock	Class A Common Stock (12,430)	—	—	12,430	Acquired
June 25, 2026	SKIL	Restricted Stock Units	Class A Common Stock (12,430)	—	—	12,430	Disposed
July 17, 2025	SKIL	Restricted Stock Units	Class A Common Stock (20,306)	—	—	20,306	Disposed
July 17, 2025	SKIL	Phantom Stock	Class A Common Stock (20,306)	—	—	20,306	Acquired
July 17, 2025	SKIL	Restricted Stock Units	Class A Common Stock (12,430)	—	—	12,430	Acquired
July 19, 2024	SKIL	Restricted Stock Units	Class A Common Stock (20,306)	—	—	20,306	Acquired
July 18, 2024	SKIL	Restricted Stock Units	Class A Common Stock (3,750)	—	—	3,750	Disposed
July 20, 2023	SKIL	Restricted Stock Units	Class A Common Stock (75,000)	—	—	75,000	Acquired
June 23, 2023	SKIL	Restricted Stock Units	Class A Common Stock (35,398)	—	—	35,398	Disposed
June 23, 2023	SKIL	Phantom Stock	Class A Common Stock (35,398)	—	—	35,398	Acquired
June 23, 2022	SKIL	Restricted Stock Units	Class A Common Stock (35,398)	—	—	35,398	Acquired
June 23, 2022	SKIL	Phantom Stock	Class A Common Stock (21,621)	—	—	21,621	Acquired
June 23, 2022	SKIL	Restricted Stock Units	Class A Common Stock (21,621)	—	—	21,621	Disposed
Dec. 28, 2021	SKIL	Restricted Stock Units	Class A common stock (21,621)	—	—	21,621	Acquired
May 20, 2021	HD	Deferred Stock Units	common stock (222)	—	—	222	Acquired
May 20, 2021	HD	Deferred Shares	common stock (728)	—	—	728	Acquired
May 21, 2020	HD	Deferred Stock Units	Common Stock (291)	—	—	291	Acquired
May 21, 2020	HD	Deferred Shares	Common Stock (955)	—	—	955	Acquired
May 23, 2019	HD	Deferred Stock Units	Common Stock (260)	—	—	260	Acquired
May 23, 2019	HD	Deferred Shares	Common Stock (1,198)	—	—	1,198	Acquired
May 17, 2018	HD	Deferred Stock Units	Common Stock (270)	—	—	270	Acquired
May 17, 2018	HD	Deferred Shares	Common Stock (1,241)	—	—	1,241	Acquired
Feb. 16, 2018	CVS	Stock Option	Common Stock (19,965)	$45.07	April 2, 2019	19,965	Disposed
Sept. 15, 2017	CVS	Stock Option	Common Stock (39,340)	$54.53	April 1, 2020	39,340	Disposed
June 26, 2017	CVS	Stock Option	Common Stock (6,029)	$34.96	April 1, 2018	6,029	Disposed
June 26, 2017	CVS	Stock Option	Common Stock (14,304)	$34.96	April 1, 2021	14,304	Disposed
June 19, 2017	CVS	Stock Option	Common Stock (6,029)	$34.96	April 1, 2018	6,029	Disposed
June 19, 2017	CVS	Stock Option	Common Stock (14,303)	$34.96	April 1, 2021	14,303	Disposed
May 18, 2017	HD	Deferred Shares	Common Stock (1,477)	—	—	1,477	Acquired
May 18, 2017	HD	Deferred Stock Units	Common Stock (321)	—	—	321	Acquired
April 3, 2017	CVS	Stock Option	Common Stock (150,268)	$78.05	April 3, 2024	150,268	Acquired
May 19, 2016	HD	Deferred Stock Units	Common Stock (380)	—	—	380	Acquired
May 19, 2016	HD	Deferred Shares	Common Stock (1,746)	—	—	1,746	Acquired
April 1, 2016	CVS	Stock Option	Common Stock (71,696)	$104.82	April 1, 2023	71,696	Acquired
May 21, 2015	HD	Deferred Stock Units	Common Stock (446)	—	—	446	Acquired
May 21, 2015	HD	Deferred Shares	Common Stock (2,053)	—	—	2,053	Acquired
April 1, 2015	CVS	Stock Option	Common Stock (59,922)	$102.26	April 1, 2022	59,922	Acquired
Nov. 7, 2014	CVS	Stock Option	Common Stock (12,058)	$34.96	April 1, 2018	12,058	Disposed
Nov. 7, 2014	CVS	Stock Option	Common Stock (14,303)	$34.96	April 1, 2021	14,303	Disposed
Nov. 7, 2014	CVS	Stock Option	Common Stock (19,964)	$45.07	April 2, 2019	19,964	Disposed
May 22, 2014	HD	Deferred Stock Units	Common Stock (635)	—	—	635	Acquired
May 22, 2014	HD	Deferred Shares	Common Stock (2,920)	—	—	2,920	Acquired
April 1, 2014	CVS	Stock Option	Common Stock (52,452)	$74.29	April 1, 2021	52,452	Acquired
Nov. 14, 2013	CVS	Stock Option	Common Stock (24,114)	$34.96	April 1, 2018	24,114	Disposed
Sept. 20, 2013	HD	Deferred Stock Units	Common Stock (649)	—	—	649	Acquired
Sept. 20, 2013	HD	Deferred Shares	Common Stock (2,987)	—	—	2,987	Acquired
Sept. 13, 2013	CVS	Stock Option	Common Stock (40,734)	$36.23	April 1, 2017	40,734	Disposed
Sept. 12, 2013	CVS	Stock Option	Common Stock (12,812)	$36.23	April 1, 2017	12,812	Disposed
Sept. 9, 2013	CVS	Stock Option	Common Stock (47,568)	$41.17	April 1, 2015	47,568	Disposed
April 1, 2013	CVS	Stock Option	Common Stock (39,340)	$54.53	April 1, 2020	39,340	Acquired
June 21, 2012	CVS	Stock Option	Common Stock (64,237)	$28.10	April 1, 2016	64,237	Disposed
June 21, 2012	CVS	Stock Option	Common Stock (23,438)	$34.42	April 2, 2014	23,438	Disposed
April 2, 2012	CVS	Stock Option	Common Stock (39,929)	$45.07	April 2, 2019	39,929	Acquired
March 1, 2012	CVS	Stock Option	Common Stock (20,286)	$30.04	April 3, 2013	20,286	Disposed
June 16, 2011	CVS	Stock Option	Common Stock (16,667)	$22.45	Jan. 5, 2012	16,667	Disposed
April 1, 2011	CVS	Stock Option	Common Stock (48,230)	$34.96	April 1, 2018	48,230	Acquired
April 1, 2011	CVS	Stock Option	Common Stock (42,910)	$34.96	April 1, 2021	42,910	Acquired
April 1, 2010	CVS	Stock Option	Common Stock (53,546)	$36.23	April 1, 2017	53,546	Acquired
April 1, 2009	CVS	Stock Option	Common Stock (64,237)	$28.10	April 1, 2016	64,237	Acquired
April 1, 2008	CVS	Stock Option	Common Stock (47,568)	$41.17	April 1, 2015	47,568	Acquired

Exercise/conversion price is blank when not applicable (e.g. RSUs).

Initial ownership (Form 3) 17 holdings

Securities held when first becoming an insider, per SEC Form 3.

Date	Ticker	Security	Shares	Ownership
Oct. 13, 2023	COST	Common Stock	—	Indirect
Oct. 13, 2023	COST	Common Stock	—	Indirect
Oct. 13, 2023	COST	Common Stock	0	Direct
Aug. 25, 2023	COST	No securities are beneficially owned	0	Direct
Sept. 24, 2013	HD	$.05 Common Stock	0	Direct
March 24, 2008	CVS	Common Stock	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Common Stock (Restricted)	—	Direct
March 24, 2008	CVS	Stock Unit	—	Direct
March 24, 2008	CVS	Common Stock	756	Indirect
March 24, 2008	CVS	Stock Option→ Common Stock (16,667)	16,667	Direct
March 24, 2008	CVS	Stock Option→ Common Stock (20,286)	20,286	Direct
March 24, 2008	CVS	Stock Option→ Common Stock (23,438)	23,438	Direct

Compensation (DEF 14A)

Matched by name from proxy statements (DEF 14A) — verify against the filing.

CVS

Fiscal year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension change	Other	Total
2014	$850,000	—	—	—	$3,165,044	—	—	$6,064,082

Figures from the Summary Compensation Table of the company's proxy statement (DEF 14A). Compensation is not a recommendation.